Answer to Question #68851 in Accounting for indhu

Question

Balance sheet and PL account of JB sons company Ltd as on December 31, 20x3
and 20x4 are as follows. Prepare a statement of sources and uses of funds.
Balance Sheet as on 31 December
Liabilities 20x3 20x4 Assets 20x3 20x4
Accounts Payable
Cash Credit
Outstanding
Expenses
Long term Loan
Capital
Surpluxs
15,000
13,000
2,000
30,000
30,000
10,000
25,000
10,000
3,000
20,000
30,000
12,000
Cash balance
Accounts
Receivable
Loan and advance
Inventories
Fixed assets (net)
5,000
10,000
5,000
20,000
60,000
2,000
8,000
------
25,000
65,000
1,00,000 1,00,000 1,00,000 1,00,000
Profit and Loss Account for the year 20x4 (Rs.)
Sales
Less: Cost of goods sold (including depreciation of Rs.10,000)
Gross Profit
Less: Ollier Expenses
Income before tax
Less: Income – tax Provision
Income aftie tax
2,00,000
1,70,000
30,000
20,000
10,000
5,000
5,000

Answer 1

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